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TDS on Cryptos: Know How Much Govt Has Earned So Far
1 year, 8 months ago

TDS on Cryptos: Know How Much Govt Has Earned So Far

News 18  

Virtual digital assets, including cryptocurrencies, attract 1 per cent of tax deducted at source. Finance Minister Nirmala Sitharaman in the Union Budget 2022 had introduced the provision of tax deducted at source at 1 per cent levied on payments made on transfer of virtual assets. According to a CBDT notification, “The new section mandates a person, who is responsible for …

Tax 1 Per Cent Vda
Government amends KYC to add non-profit organisations, ‘politically exposed persons’
1 year, 9 months ago

Government amends KYC to add non-profit organisations, ‘politically exposed persons’

The Hindu  

The Finance Ministry has amended the Prevention of Money Laundering Rules for widening the scope of Know your Customer norms to include Politically Exposed Persons, non-profit organisations and those dealing in virtual digital assets as reporting entities. Through a notification, the Ministry has made the exchanges and intermediaries dealing in VDA, such as cryptocurrency, reporting entities under the Prevention of …

Ministry Kyc Reporting Entities
Budget 2023: What Awaits The Crypto Sector? Everything You Need To Know
1 year, 11 months ago

Budget 2023: What Awaits The Crypto Sector? Everything You Need To Know

ABP News  

The 2023 Union Budget is nearly here and the biggest question that’s haunting the mind of crypto enthusiasts is simple — how will the Finance Ministry treat the virtual digital assets sector this time around? While 2022 saw several important milestones for the crypto sector, from the taxation of gains to the introduction of a central bank digital currency, the …

India Financial Budget Assets Digital Cryptocurrencies Sector
Gifting NFTs, Crypto, VDAs This Diwali? Recipients Can Be Taxed On Certain Items. Know More
2 years, 2 months ago

Gifting NFTs, Crypto, VDAs This Diwali? Recipients Can Be Taxed On Certain Items. Know More

ABP News  

Exchanging gifts during Diwali has become part and parcel of the festival as it brings a smile to our face. Certain gifts received can attract tax under the existing Income Tax law. Crypto tax Finance Minister Nirmala Sitharaman in her Union Budget speech this year announced that from April 1 all forms of VDA or crypto assets that are sold …

Tax Digital Diwali Income Digital Assets 30 Per Cent Nfts
Know your rights before investing in digital assets
2 years, 4 months ago

Know your rights before investing in digital assets

Live Mint  

To understand the rights that are afforded to you when you are dealing with, or transacting in, cryptocurrencies, you need to first understand how this ecosystem works. Amid all the cautionary advice issued by the government in view of the risks associated with the technology, the end users must become familiar with what they can expect of these service providers …

Consumer Rights Service Platform User Users Provider
TDS Rules On Cryptocurrencies Effective From Today; Know How These Rules WIll Work
2 years, 5 months ago

TDS Rules On Cryptocurrencies Effective From Today; Know How These Rules WIll Work

News 18  

The rules regarding the tax deducted at source on virtual digital assets and cryptocurrencies have come into effect from Friday. The rules make it mandatory for the purchaser of a VDA to deduct 1 per cent of the amount paid to the seller as income tax deducted at source. The new section mandates a person, who is responsible for paying …

Tax Rules Person Deduction Tds Cbdt Vda
TDS On Crypto Assets From July 1: Income Tax Dept Issues Guidelines; Know Rules Here
2 years, 6 months ago

TDS On Crypto Assets From July 1: Income Tax Dept Issues Guidelines; Know Rules Here

News 18  

The Central Board of Direct Taxes has issued detailed guidelines on the levy of tax deducted at source on virtual digital assets or crypto assets, which will be effective July 1. The CBDT said, “This deduction is not required to be made in the following cases:- the consideration is payable by a specified person and the value or aggregate value …

Tax Transfer Value Sum Deduction Tds Exchange
Cryptocurrency tax, bill in India: What we know so far
2 years, 8 months ago

Cryptocurrency tax, bill in India: What we know so far

India Today  

The cryptocurrency tax and proposed regulation bill have been a topic of discussion among investors and stakeholders in India for sometime. The government on Thursday proposed to tighten the norms for taxation of cryptocurrencies by disallowing the set off of any losses with gains from other virtual digital assets, according to a PTI report. FINANCE BILL, 2022 As per the …

India Tax Cryptocurrency Pti Bill 2022 Tds
Variable Dearness Allowance (VDA): All you need to know
3 years, 6 months ago

Variable Dearness Allowance (VDA): All you need to know

India Today  

Variable Dearness Allowance defines the new amount which is earned after the increase or decrease in the consumer price index. At this time when the country is struggling with the second wave of Covid-19 pandemic, to protect the employees and the current inflation, the variable dearness allowance is issued for workers working under the central government. Current status of VDA …

Workers Index Price Central Allowance Vda Variable Dearness Allowance